Moors & Cabot Inc. Reduces Holdings in Koninklijke Philips (NYSE:PHG)

Moors & Cabot Inc. reduced its holdings in shares of Koninklijke Philips (NYSE:PHG) by 19.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,466 shares of the technology company’s stock after selling 2,352 shares during the quarter. Moors & Cabot Inc.’s holdings in Koninklijke Philips were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. FMR LLC grew its holdings in shares of Koninklijke Philips by 0.6% during the third quarter. FMR LLC now owns 6,138,708 shares of the technology company’s stock worth $200,859,000 after buying an additional 35,935 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Koninklijke Philips by 315.0% during the third quarter. JPMorgan Chase & Co. now owns 245,729 shares of the technology company’s stock worth $8,040,000 after buying an additional 186,520 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Koninklijke Philips during the third quarter worth about $4,622,000. Stifel Financial Corp grew its holdings in shares of Koninklijke Philips by 16.4% during the third quarter. Stifel Financial Corp now owns 195,222 shares of the technology company’s stock worth $6,388,000 after buying an additional 27,536 shares in the last quarter. Finally, Callan Family Office LLC purchased a new stake in shares of Koninklijke Philips during the fourth quarter worth about $460,000. 13.67% of the stock is currently owned by hedge funds and other institutional investors.

Koninklijke Philips Price Performance

Koninklijke Philips stock opened at $26.76 on Monday. Koninklijke Philips has a 1 year low of $19.10 and a 1 year high of $32.91. The firm has a 50 day moving average price of $26.65 and a 200 day moving average price of $27.84. The company has a market cap of $25.15 billion, a price-to-earnings ratio of -31.85, a PEG ratio of 0.82 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.23.

Koninklijke Philips (NYSE:PHG) last released its earnings results on Wednesday, February 19th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The company had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Koninklijke Philips had a negative net margin of 3.88% and a positive return on equity of 10.85%. Sell-side analysts predict that Koninklijke Philips will post 1.63 earnings per share for the current year.

Koninklijke Philips Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.886 per share. The ex-dividend date is Tuesday, May 13th. This represents a yield of 2.9%. Koninklijke Philips’s dividend payout ratio is currently -89.29%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PHG shares. UBS Group upgraded shares of Koninklijke Philips from a “neutral” rating to a “buy” rating in a report on Thursday, February 20th. StockNews.com upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Finally, BNP Paribas upgraded shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Koninklijke Philips Company Profile

Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. The company operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. It also provides diagnostic imaging solutions, includes magnetic resonance imaging, X-ray systems, and computed tomography (CT) systems and software comprising detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; integrated interventional systems, and interventional diagnostic and therapeutic devices to treat coronary artery and peripheral vascular disease.